Enjoyed your post. Once I max out my abilities on the current vehicle, I may move to the ES, where 100k per day is possible. I will settle for less, for now, until I have mastered myself and the vehicle.
How many of you make over 100k/day regularly day trading?
- Thread starter kalikahuna
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Enjoyed your post. Once I max out my abilities on the current vehicle, I may move to the ES, where 100k per day is possible. I will settle for less, for now, until I have mastered myself and the vehicle.
Hi. First time poster here.
If you can make $100 per day consistently with good money management skills, you can make $1000, $100,000 or $1,000,000 per day. It's all in the trader's skill and risk/reward management calculations.
I net about $1,000 in ES futures per day. But it took years to learn what I could do in the market and what wasn't possbile - at least for me. The learning curve was long, hard and expensive.
Good luck.
If you can make $100 per day consistently with good money management skills, you can make $1000, $100,000 or $1,000,000 per day. It's all in the trader's skill and risk/reward management calculations.
I net about $1,000 in ES futures per day. But it took years to learn what I could do in the market and what wasn't possbile - at least for me. The learning curve was long, hard and expensive.
Good luck.
Depending on fills, I don't see why the strategy I'm trading couldn't be scaled up. I limit the amount of money I want in the market at any one time, but that's my choice as a lone day trader.
I've never traded "fat fingers" so perhaps there's some limitation I am not aware of.
I started by making $50 per day. When I had confidence in my strategy, I added funds to my account. Now I take "x" amount of profit out every week and leave "y" amount to build the account. And I average about $1000 per day.
I don't care what amount you're making but if you're not walking away with some profit at the end of the month, perhaps you should find another job.
You can believe what you want, but intraday strategies have scalability problems due to the liquidity available in each market.
" I limit the amount of money I want in the market at any one time" First time I ever heard of a trader limiting their profits. Normal traders limit their losses, not their profits.
That's ridiculous. Limiting the amount of money you have in your account is not limiting your profits - it's using common sense. I build my account slowly and increase the number of contracts based on my own money management algorithm.
Trading is also about reducing risk. And reducing risk should include how much exposure you want in the market at any one time partly based on total assets.
The fact of the matter is, most strategies are not scaleable to this size due to:
a) slippage on fills as you increse your lot size
b) a trader's psychological level
Beleive it or not, the traders psychology is much more difficult to work through and, in many respects, is like moving a mountain.
Basically if you start with $100 a day and can scale that strategy to 100 times that level, you're a superstar ... but that's $100,000 a day, not a million.
Good trading
P.S. But lets say you decided to develop your trading business and higher 10 or 20 people to push a button when you blow a whistle ... and there's your one million dollars a day! :eek:
You have a very strange view of what is common sense. Artificial limitations are not common sense.
If I have a 10k account and trade 1 ES I have the exact same risk as having a 100k account and trading 10 ES. It takes the same time and effort to trade 1 ES as 10 ES, so trading 10 ES with the 100k account properly rewards me for my time and effort while trading 1 ES with the 10k account does not.
You're wrong. Because perhaps a $100,000 account is too large for an individual trader based on his/her total assets. It may be the same risk relative to 1 vs 10 contracts. But it's not the same risk relative to one's asset base.